Average Hourly Earnings of All Employees: Total Private in Delaware
SMU10000000500000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.72
Year-over-Year Change
44.12%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Hourly Earnings of All Employees: Total Private in Delaware measures the average hourly wage for private sector workers in the state. This key labor market indicator provides insight into the economic conditions and spending power of Delaware residents.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend tracks the average hourly wage for all private sector employees in the state of Delaware. It is an important measure of labor costs and can be used to assess changes in worker compensation, which impacts consumer spending and business profitability.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists analyze this metric to gauge the strength of the Delaware labor market and overall economic conditions.
Key Facts
- Delaware's average hourly wage was $29.50 in 2022.
- Wages have increased by 3.2% annually on average over the past 5 years.
- The private sector accounts for over 80% of total employment in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage for all private sector employees in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and worker compensation in Delaware, which are key indicators of the state's economic conditions and consumer spending power.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to gauge the strength of the Delaware labor market and overall economic conditions, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Total Private in Delaware (SMU10000000500000003A), retrieved from FRED.